Furthermore, we don't feel comfortable accepting liability after one of the partners told us they would not be properly capping off exposed live electrical wires in the wall even though we advised them it is a hazard and you cannot just "plaster over it" as he said he would do.

How to properly research and compare different mortgage rates?

Department of Treasury with usc exceptionState Tax LienLien by USA or Dept of JusticeUS Department of StateOther Federal AgenciesFrequent Superior Foreclosure-Liens:Code Enforcement for debris removal or mowingDemolition or Environmental Based Liens State child support lienBoard of County Commissioners for special assessmentsUtility LiensWater/Sewer Delinquency (only in selected states)County (and/or School/Township) for unpaid taxesCity for road improvements, maintenanceHere are some of the judgment and liens that will be wiped off from the property (not the borrower who lost the title) if the lien holders were properly notified and "had the right to bid on the property at the auction":2nd and junior position mortgages, such as home equity loans, etc...Credit Card Judgments recorded after the foreclosing mortgage Personal Judgments recorded after the foreclosing mortgageMechanic's Liens recorded after the foreclosing mortgageOther Judgments outside of the ones listed above  

Do you need to have wireless routers in the rental to work properly?  

I know what has happened has happened but for anyone else reading this make sure any internal areas that get water soaked are properly dried out.

Last advice: make sure to have good records an accurate / current data tape - not every loan is based on lender qualifications and LTV/LTC  - normally, the DSCR (debt service coverage ratio) carries a large weight in the overall risk profile.Much Luck!

My advice is to stay away from commercial property until you understand how it's valued, and can perform a proper due diligence and valuation.    

Not sure what proper course would be...Thanks in advance for any good insight guys !!!

Learning to do a proper analysis before hand might have kept you from offering in the first place.

If you have any plans for the second lot, you may want to do your due diligence to make sure things are zoned properly for your plan.